‘Small data’ is the big answer for your business
Over the last year, we've heard a lot about Big Data—the ability to crunch reams of data to uncover valuable business insights and trends.
But Big Data is not the big answer for smaller businesses. It's too expensive, too complex and can be misleading if you don't have the analytical expertise to interpret the results.
A better solution is small data—using simple tools to analyze and improve your Internet marketing. The data is already there and ready to be used.
Visitors tracked on updated website
For instance, a small business client of ours sells services to the automotive industry. They recently updated their website and had Google Analytics installed to see where visitors were coming from and how much time they were spending on the site. The business also tracked how many visitors were downloading the company brochure and quote request form.
They took online tracking a step further in preparation for a trade show. They started a pay‑per‑click ad campaign that channeled traffic to a specific page on their site. It advertised their trade show booth, allowed visitors to register for a contest to win $500 worth of their services and promoted their social media feeds.
Data reveals valuable information
How many downloads of brochures/quote requests did they have? How many visits did they have to the trade show page?
How many people clicked on their ad during the weeks before the trade show? How many contest registrations did they have?
How many sales leads converted into paying customers in the days leading up to and after the trade show? For comparison, how many leads did they have through their website last year and how many converted into sales?
How many new likes did they receive on their Facebook page? How many new Twitter followers? Did anyone mention them during the event?
For smaller businesses, Big Data isn't worth the big investment. You already have the small data tools you need to analyze your online properties.
With this information, you're well‑armed to improve your marketing efforts and increase sales without the unrealistic costs of Big Data.
To learn more about measuring and optimizing your online marketing efforts, download your free copy of BDC's new guide, Boost Your Sales With Online Marketing: A Guide for Entrepreneurs.